Police warn against counterfeit R500 notes in circulation

Having registered some cases of R500 counterfeit notes in circulation over the past few days, the police are asking businessmen and the public in general to be extra cautious and be on the alert while engaged in monetary transactions, both during day and especially at night.

The police say they view counterfeit bank notes in a very serious light and are urging anyone who is given a counterfeit note to immediately report the matter to the nearest police station so that it can be investigated by the Fraud Unit.

The police are requesting the public to come forward if they have any information regarding the printing, tendering or possession of counterfeit notes.

People found in possession of counterfeit notes are liable to a three-year imprisonment term while those who produce counterfeit notes face life imprisonment.

The general public are advised to remain vigilant at all times, and to check all notes as they are being passed in payment, to ensure their authenticity. Counterfeiters target businesses especially where they know that bank notes are not being checked.

It is important to note that the Central Bank of Seychelles is the sole authority to issue bank notes in Seychelles. These notes contain distinct, easily recognisable security features to facilitate the detection of genuine notes against forgeries.

The features include security thread, watermark and images that become apparent under ultra violet light. Counterfeit notes are worthless and as such no reimbursement of face value is given by the Central Bank of Seychelles.